The Nottingham for Intermediaries accepts applications for buy-to-let mortgages from a limited company. We’ve listed our key criteria here but if you have a case that doesn’t fit we may still be able to help you through our commercial team.
You can view our current range of limited company buy-to-let products here.
Key criteria
- Loan to value up to 75%
- Limited company should be a special purpose vehicle (SPV) that is set up for holding and letting residential investment property, with one of the following SIC codes:
- 68100 - buying and selling of own real estate
- 68209 - management of real estate on a fee or contract basis
- 68320 - other letting and operating of own or leased real estate.
- The SPV must be non-trading
- Partnerships or LLPs will not be considered
- Directors and company shareholders are required to be the same, up to a maximum of four directors
- The rental income must cover at least 125% of the monthly interest payment on an interest only basis. The mortgage payment is calculated at:
- 6.29% for 5 year fixed rates
- 6.29% for like for like remortgages
- 8.29% for all other lending.
Additional information
Personal guarantees for the full loan amount will be required for all directors of the limited company; a floating charge will not be required.
The assessment of the application will include reviewing all other properties owned by the limited company.